Escrow Bank definition

Escrow Bank has the meaning specified in Section 2.15(c).

Escrow Bank means a Scheduled Bank as defined under Section 2(e) of the Reserve Bank of India Act, 1934 having a net worth of at least ` 1,000 Crore (Rupees One Thousand Crore), with which the Escrow Account is opened and maintained by the Developer;

Escrow Bank shall have the meaning set forth in Clause 13.1.1; "Escrow Default" shall have the meaning set forth in Schedule-E;

Examples of Escrow Bank in a sentence

• The Escrow Bank shall have no obligation to make any payment or disbursement of any type or incur any financial liability in the performance of its duties under this Escrow Agreement unless the Town shall have deposited sufficient funds with the Escrow Bank.

• The recitals of fact contained in the “whereas” clauses herein shall be taken as the statement of the Town, and the Escrow Bank assumes no responsibility for the correctness thereof.

• This Escrow Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original; and such counterparts, or as many of them as the Town and the Escrow Bank shall preserve undestroyed, shall together constitute but one and the same instrument.

• Any notice to or demand upon the Escrow Bank may be served and presented, and such demand may be made, at the corporate trust office of the Escrow Bank as specified by the Escrow Bank as Trustee in accordance with the provisions of the Indenture.

• The Escrow Bank shall not be liable in connection with the performance of its duties under this Escrow Agreement except for its own negligence, willful misconduct or default, and the duties and obligations of the Escrow Bank shall be determined by the express provisions of this Escrow Agreement.

More Definitions of Escrow Bank

Escrow Bank shall have the meaning as set forth in Schedule 9;

Escrow Bank means as set forth in Article 20.1;

Escrow Bank means Skandinaviska Enskilda Banken AB (publ).

Escrow Bank shall have the meaning set forth in Article 24;

Escrow Bank a depositary bank acceptable to the Administrative Agent at which ESH REIT will maintain the Escrow Account.

Escrow Bank shall have the meaning set forth in Clause 25.1.1;

Escrow Bank means The Bank of New York Mellon Trust Company, N.A. “Event of Default” means any of the events described in Section 8.01.